Posted 10 January 2009 - 11:26 AM
to the person who inquire more, im also posting the response here coz im not sure kung na-send ung response sa yo.
1) bro in late 1999 i bought a 1995 nissan sentra second hand cab but it was just 1 year in use as one. hence, i had 4 years left in the 5-year license. the owner had to ditch the taxi because of opportunity abroad.
2. during that time boundary I think was Php550 per day. car leaves 7am and is back at 9pm. a driver makes Php250 to 500 per day that time, depending on the day (malakas monday, friday and saturday).
3. contract to own is Php1450 paid every week, which computes to Php75400 per year for 3 years, giving a total of Php226,200 for years 2,3 and 4th year of operation. Napakagaan nito sa kanya and in fact most contracts are 2 to 2.5 years. but i gave it to him for 3 years para mas lalo gumaan pagbayad nya, sort of tulong ko na rin sa family nya. condition was during first year of contract, the car is parked in my house. on second year of contract (or third year of operation), given that wala syang default, he gets to park the car in his house. everything is in legally binding contract. then each payment, i sign a receipt and give him a copy of his receipt. so a total of 52 receipts per year.
sometimes, pag nasira sasakyan, magrerequest sya to pay on the next week, which is ok lang as long as he makes good. i get to visit him sa house (walking distance lang where I live) to check on the car and see kung sira nga.
so i only had the car for the first 2 years. on year 1, i netted Php60,000 (meaning that is my cash balance at the end of year one labas na pagawa and maintenance). so if i add 226,200 + 60,000, I got a total of Php286,2000 at the end of 4 years. this is the same as saying I earned 22% return on investment.
here's what I could suggest further : limit the contract to 2.5 years, which is the standard. that means tataas ung weekly payment to compensate for the shortened time span.
also, if 2.5 years ang contract, start with letting him park the car in his home after 1.5 year of good payment in the contract, and not after 1 year like I did. added safety na rin sa yo. IMPORTANT to get a driver na malapit lang sa yo haybols at kilalanin pamilya. ung hindi pwede i-carnap sasakyan mo.